Bitcoin has some bullish momentum for it, especially the amount of coins getting bought recently. With the hash rate dipping, the total transactions (yellow) is SKY ROCKETING! Lets see if it stays up there or not. This usually precedes a price movement, so potentially we may see some upward movement?
I still expect the market to continue downwards, but it is important to take not of structural changes within the market, as they can predict pivots.
@bed87, Bitcoin Liquid Supply Ratio says: Don't short. Bitcoin Transactions Total (for last couple days) shows upward trend. I am only referring to immediately, which is looking correct so far.
As far as going short, I can see heavy consolidation, and I do not believe we have much longer left. Also, the Supply held by Entities between 1k Bitcoin - 10k Bitcoin went up Significantly! They are back.
All on-chain data showed an immediate uptrend.
Shwayze
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As far as to where, it may just bounce off the MA50 directly above it. But start watching for pivot points, the data / structure is showing some change.